Overleaf, I have annotated our data collection sheets for the Environmental Quality Index and the traffic and pedestrian survey in depth, to explain each part of the sheet and what it means.
Annotation of data collection sheets:-
Environmental Quality Index:-
Traffic and Pedestrian Count:-
The questionnaire that we produced was created as a class. We were asked to think of five questions and write them down onto a Word document, these questions were then analysed and merged to produce a questionnaire that included everyone’s input. Producing a collective questionnaire gives us more reliable data as the sample size is larger. The questionnaire we produced was broken down into four different sections as any business that wishes to be successful must consider the 4 P’s of the marketing mix:
- Product
- Place
- Price
- Promotion
Product:-
This question is important as the results will tell Coffee Republic if they are targeting the right area and the right possible consumers. The second part of the question will also give an indication as to how much business the company is likely to receive by showing how many cups a particular person drinks a day.
Place:-
This will help me conclude whether Finchley Central would be a sound place to locate a new Coffee Republic franchise in. If the majority say yes, then it would indicate a good business decision.
Price:-
This can help me to find out how many potential customers are willing to pay for a cup of coffee. This can indicate how much money the new franchise is likely to make from the amount they are selling their coffee for. This amount has to be respectable and not too high so customers are willing to pay for it.
Promotion:-
This can help to show what people look for when they go to Coffee Republic. It shows how Coffee Republic can organise what they need to do to attract a lot of customers.
Presentation of information – Primary:-
Database filters:-
I inputted all questionnaire results that I obtained into a database. I needed to get one hundred questionnaire results, so as a class; we shared results until we had the sufficient amount. After gathering one hundred results, I filtered out ten results featuring two variables, so I could get a view on how many people are part of both variables, e.g. drink and live locally. These were expressed as a percentage and I have commented on these ten filters below in the table.
Graphs from questionnaire results:-
The majority of people asked said that they do drink coffee, it can show us that there are definitely potential customers out in this area; 70% according to this data. With the vast number of coffee shops already in the area, and the majority of residents that said yes to drink coffee, it would indicate that locating a new Coffee Republic in the area is a sound business decision.
This pie chart shows us negative feedback which will not be beneficial to Coffee Republic as they seek their potential customers. This would be negative feedback as the highest proportion of the pie chart is taken up by the option of ‘never’. This means that the majority of people asked do not have an interest in coffee, which means that passing trade may be low. However, there is still a high amount of people who said that that they go out for coffee occasionally and weekly, which taken together can show us that there is still a high possibility of potential customers, which mean there can still be positives taken from this data. Nevertheless, the amount of people that said they never go out for coffee is alarming, and can show that out of the P’s, place would not be suitable.
The most common answer among people here, 40%, is that they were willing to spend from £1.50-£1.99 for a cup of coffee. Therefore, if a new Coffee Republic franchise was to open in Finchley Central, they would have to think carefully about their pricing strategies. For example, price skimming would not be suitable as people are not willing to spend large amounts of money on coffee. Furthermore, a pricing strategy like competitive pricing cannot be used as the competition in the area is very limited, as there are only mostly local cafés and small coffee shops. This tells us that Finchley Central does not have an upper-class market and is occupied by working-class people, so a more respectable pricing strategy will have to be considered to meet the wants of the people.
By looking at these, we can see that the two most popular coffee shops with the people of Finchley Central are Costa and local cafés, as we can see they take up the highest proportion in the pie chart. This indicates that a lot of people asked are not interested in the branded coffee shops apart from Costa; which then shows that maybe locals would rather go to a cheaper local café than a branded coffee shop. This would then demonstrate that it would be a sound business decision to locate a new Coffee Republic franchise as there would not be a lot of interest in branded competition. This would mean that Coffee Republic would need to sell their beverages at low prices to keep local interest high; to stop them going to a cheaper local café. Overall, this would suggest that Coffee Republic would be very popular in the area as it is a major coffee/espresso brand as there are no existing brand names like this in Finchley Central.
The most common beverages other than coffee drunk at local coffee shops are tea and juice. This indicates that the majority of people prefer to have hot drinks when they visit coffee shops. Of the other beverages that are available, frapuccino is the least preferred. In terms of most favoured food, the most popular among the people asked was a sandwich. The results for the food were very close as it seemed that every type of food listed on the questionnaire was preferred by a lot of people. Nevertheless, the least popular food was a pastry. From looking at this graph, it suggests that as well as targeting people that drink coffee, Coffee Republic will need to consider targeting a large variety of people such as young children and the elderly, who will not be allowed or not be able to drink coffee, who would rather have a more suitable food or drink such as juice or a sandwich. Coffee Republic would additionally need to consider when they sell their extra beverages or food; as juice and water would usually be popular in summer due the hot weather, whereas tea would usually be associated with winter, so Coffee Republic are likely to sell more tea in the winter than the summer.
Traffic survey:-
Our traffic survey clearly shows an assortment of vehicles that went by on the high road. The majority of which were cars, which is expected as this would be the most convenient mode of transport. This is why we would expect a lot of cars at this time; because we collected this data in the morning, there would have been a high amount of cars going by as the employed would be going to work and to going by car is the most suitable form of transport. I can see that the busiest time period was at 9.45, this shows me that at the other time intervals there were fewer vehicles which could be the result of parking restrictions.
Pedestrian survey:-
From the data in the table on the previous page, I can see that the highest number of pedestrians recorded was at 9.00. The rest of the data shows me that the location is busy throughout the morning which would be good for the Coffee Republic franchise as they would be able to attract a larger number of customers, throughout the day. This high amount of people could be because of the fact that many people are going to work at this time. There is only one person seen with a cup of coffee, this is surprising as you would expect a lot of people holding a coffee in the morning, as a lot of employed people get a cup of coffee to go. This low amount of people with a cup of coffee does suggest a lack of good coffee shops, which is true as most of the competitors to Coffee Republic are small, local café’s, which suggests a lack of quality coffee available.
Number of people in the closest coffee shop:-
In the data that I have presented in the table above, I can see that the coffee shop I went into had very few customers at each of the time intervals. This information shows me that the coffee shops aren’t in demand in the location of Finchley Central or that I went into the coffee shop during its quiet period.
Existing Coffee shops in the area:-
From this table, shows that the area of Finchley Central has no major competitors, as the only form of competition available are from local café’s. This means that there is an opportunity for Coffee Republic here, to eliminate the local competition and increase their market share due to their reputable brand name.
Interview:-
When did you open this coffee shop?
About two and a half years ago.
How has the market changed over the years?
Recently, maybe as a result of the credit crunch, it’s very quiet. You always expect it to be quiet at this time of the year, but not this quiet. The regulars we used to see once a week or twice a week are now coming once every two weeks. Obviously they are cutting down, and instead of buying two cups of coffee with a snack or meal they are buying a single. That makes a big difference to us. And some of our regulars we don't see at all now - at first you assume they are on holiday, but then you realise they have gone. They were our friends as well as customers.
Why did you decide to locate in this area?
I decided to locate in this area as I believe that it has a lot of business potential as it is an extremely busy area.
Who are your main customers?
Mainly local workers and senior citizens in the area, we also get the occasional passing trade; People coming in from other areas of England to visit friends and family and others from nearby areas like Barnet and Woodside Park.
What is your best selling product?
Coffee with a muffin or pastry, this is very popular with our customers.
Have you noticed any differences between the type of customer who sits in and the one who takes away?
The customers that stay are the regulars and the ones that take away are mainly office workers and passing trade.
How much do you charge for a standard cup of coffee?
£1.30
Do you do any advertising/ any promotional offers?
Yes, coffee with a muffin or cookie which we sell for £1.50
Do you have any future plans to change/ expand the business?
Right now we are happy the way we are, hopefully business will pick up within the next 4-5 months and we can carry on running the way we have been. Although if in opportunity does come along I will take it.
What ways does your coffee shop differ from a chain like Starbucks or Coffee Republic?
We are much smaller and sell our coffee at cheaper prices. Of course, we aren’t as familiar with the public, but we do attract many locals in the area.
Presentation of information – Secondary:-
Census data:-
Here is various data which I obtained from the 2001 West Finchley census that is based around the demography of the area. This data will help me to make conclusions about potential customers, levels of income etc. I have converted some census data into graphs and kept some as tables.
From this graph taken from the census data, it is clear that the majority of people living in Finchley Central are aged 20-64. From this data, Coffee Republic has a good age gap to provide coffee and other beverages to potential customers. However, there is still a high amount of 5-19 year olds, so they may need to provide an alternative for the younger people instead of coffee, such as a sandwich or juice.
The most popular mode of transport that employed residents use here is the train via the underground station. This is very significant for Coffee Republic as the underground station is very near to the site where the possible Coffee Republic would locate. This would mean that Coffee Republic could be able to obtain many customers from the underground station as a lot of employed people would be leaving the station to go home in Finchley Central.
This table acquired from the census, shows us what percentage of the residents in Finchley Central are economically active. There are a lot of employed people shown in this data, which can provide the possibility of customers, as the employed have more disposable income to spend on such indulgences that Coffee Republic provides.
From the table above, I can see that 18% of people in Finchley Central are classed in the large employer, higher managerial/higher professional group. This information tells me how much possible disposable income potential customers may have by looking at their economic classification. By looking at this group in particular, it can show that this group of people have a high amount of disposable income as this group is associated with high paid jobs such as doctors, lawyers etc. From gathering this information, it can help to make a decision on pricing, as Coffee Republic will need to set a pricing strategy that will suit its target market.
This table shows that 10% of people in Finchley Central work from home. This indicates that this class of people may not have a lot of disposable income to spend on luxuries, which can mean people in this category may not visit the potential Coffee Republic. This would mean that Coffee Republic may need to set a low price for their quality products to appeal to this set of people, as this category of people may not earn a lot of money compared to those in a high professional role.
Data from upmystreet:-
This map shows data which I have collected from . It lists the ten surrounding coffee shops in Finchley Central, which may prove to be potential competitors to Coffee Republic. This can help me to pick out which of these competitors would be a threat to Coffee Republic.
From the competitors map I can see that there are a large number of competitors surrounding the potential location of the new franchise. This data shows me whether locating a new franchise would be a sound business decision as a large number of competitors could be detrimental to Coffee Republic. On the contrary, the map shows that the competition is small scale businesses e.g. local café’s, which could mean that locating a franchise there would eliminate them, due to the reputable name and brand that Coffee Republic has built up.
The Coffee Republic franchise process:-
This flowchart shows the processes and steps involved in creating a Coffee Republic Franchise. Possible franchisors will always look to these steps when considering creating a new Coffee Republic franchise. I obtained this information from the Coffee Republic franchise pack from the Coffee Republic website.
Evaluation:-
Marketing Mix (4 P’s):-
In this section I will be evaluating the 4 P’s, product, price, promotion and place. These are all factors which need to be considered if the Coffee Republic franchise in Finchley Central wants to be a successful business venture.
Price:-
A business needs to make sure that they are setting a fair pricing strategy when they are pricing their products. When setting prices, businesses take into account many factors, such as competitors’ prices, the cost to make the product, peoples social drinking habits etc. Coffee Republic needs to respect people’s social lives and their employment, as they would want to set a price which everyone can afford, and not just the employed. It is all about setting a fair price for a quality product. Coffee Republic may also need to consider supply and demand, meaning that Coffee Republic may charge high prices for product in demand and low prices for products which are not so popular. The majority of people I questioned were willing to pay £1.50-£1.99, for a high quality cup of coffee [Graph 3]. This demonstrates that the people of Finchley Central prefer quality and well made coffee rather than cheap coffee, which the small, local competitors may provide.
Product:-
A business will also consider the products and services made available to customers. From my questionnaire results, I found that tea and juice were peoples favourite other beverage apart from coffee [Graph 5]. This would mean that Coffee Republic will need to provide separate beverages apart from coffee for e.g. their younger customers who coffee isn’t suitable for. Coffee Republic could provide:
- Tea
- Water
- Shakes
- Smoothies and ice drinks
- Sandwiches and pastries
Place:-
Place is one of the most important factors that a business will look at; “have the right product in the right place at the right time”. A good location must account for various factors of location, including, labour force, customer base, accessibility and competition. Looking at my secondary data which I collected from the West Finchley Census [Graph 7], we can see that Finchley Central has many transport links in the form of the underground tube station, bus routes, and a high amount of pavements and cycle lanes. If the access to the motorway is close, it can mean successful and efficient deliveries could take place more quickly. A problem that Coffee Republic may face is the lack of a skilled labour force. However, working in a coffee shop requires minimum skill and education, which can mean that students around the area could be potential targets as employees. On the next page is a map of the existing Coffee Republic franchises in the United Kingdom.
Promotion:-
Promotion is involves how a business is to market its products or services. If Coffee Republic wants to improve its sales or get more customers or keep the customers they have interested, they must actively work at business promotion all the time. Forms of promotion include:
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Advertising – e.g. using television, magazines, billboards
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Sales promotion – e.g. BOGOF, 20% off, vouchers, seasonal deals
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Personal selling – e.g. personal contact with customers happening face-to-face or via the telephone
A sales promotion mainly happens during a special time of year or season. Here is a latest sales promotional offer, which is based around the season of winter.
Factors of location:-
Having presented and analyzed both my primary and secondary data, I will now be evaluating the main purpose of my coursework which is whether or not it would be a sound business decision to locate a Coffee Republic Franchise in Finchley Central.
There are many factors of location that influence locating a Coffee Republic Franchise in Finchley Central some of which include:
Transportation and communication links – This would definitely be considered when deciding whether Finchley Central is a good location for locating a Coffee Republic Franchise. Transportation links play a significant role in the success of a business as poor transportation links could result in suppliers not being able to deliver goods efficiently and easily which could also increase the costs of the business. Also, potential customers may not be able to find the store easily if there isn’t any transport links connecting Coffee Republic to the rest of Finchley Central. The area is well connected to the rest of London as it is situated near the M25 and North Circular. As well as this Finchley Central is centrally located adjacent to the underground and there is access several bus stops allowing there to be easier access for both customers and for Coffee Republic’s suppliers. Furthermore, good communication is also very important for Coffee Republic, if they want to communicate with the franchisor, if there are any issues concerning the running of the franchise. They would need to stay in contact with suppliers, to keep track of stock when it is being delivered. Finchley Central would be a good location in terms of the transport and communication links that area available. Finally, Coffee Republic will need to provide internet connectivity to the potential customers who would like to have the added luxury of internet access, alongside their coffee or other beverage. The communication links within Finchley Central are also of high quality as they have very reliable internet and phone access. A problem that may be caused because of the location may be the high volumes of traffic passing through each day which links onto the main roads and motorways which possibly can make it harder for potential customers travelling to Coffee Republic and for stock deliveries to be efficient and on time, as a lot of traffic could cause late stock deliveries, which in the long term, can bring about stock shortages.
Location of Market – This is one of the very important factors in deciding whether or not Finchley Central is a suitable location for locating a Coffee Republic Franchise. The location of Finchley Central has very few branded coffee shops; all of the competitions in Finchley Central are all very small, unbranded local café’s, which will mean that Coffee Republic will be able to dominate the espresso and catering market due to their very reputable name. This would then increase their market share as they continually wipe out competition. Additionally, due to the fact that Finchley Central has a very affluent society, Coffee Republic’s customer base would also increase, as they are very near to the possible location of Coffee Republic, as they could be able to gather customers from the offices nearby and from the Tesco’s.
The Coffee Republic franchise would be able to eliminate any small scale competition through high quality products and service of an excellent quality which make them unique from the rest of the market; by combining these two factors with a reasonable pricing strategy, Coffee Republic can ensure a profit from their work, which would make it a sound business decision to locate in Finchley Central.
Supply of Labour – The supply of labour is an important factor whilst considering locating a Coffee Republic Franchise in Finchley Central. When branded coffee shops like Coffee Republic are setting up a store in a new area, they are looking to find a good quality labour supply. They would usually be able to obtain this labour supply from schools and colleges, to then hire their students, as this is a very efficient way to gain staff for cheap. Employers would be willing to give students a placement there and possible student workers would want to work there also.
Land use – Existing businesses in the area are already attracting a vast amount of customers to Finchley Central. This would perhaps allow for Coffee Republic to undergo a joint venture with Tesco’s; if you show Coffee Republic a Tesco’s receipt, you can get half price coffee, therefore, both businesses win. Offices already in the area mean that Coffee Republic have the ability to target office workers/ builders who will have a lot of disposable income which they could spend at Coffee Republic.
The other factors of location include the following:
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Site – Whether the site chosen meets all the building regulations.
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Availability of raw materials – Deliveries could be made easier if the raw materials needed were close to the outlet.
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Competition – Where the closest competition is and if it is of large or small scale.
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Cost of real estate – How expensive it is to buy a site in Finchley Central.
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Government incentives – When the government gives a certain amount of money to the business to start up, if it is in a run down or derelict area.
On the next page, I have created a SWOT analysis, evaluating possible strengths, weaknesses, opportunities and threats about the area of Finchley Central. Then I have listed selected points from my SWOT analysis and supported it with evidence to show whether it would or would not be a sound business decision to locate in Finchley Central.
SWOT analysis for Finchley Central:-
I will now pick two points from each box, and separate those into 4 points for locating in Finchley Central, and 4 against, backing me up using the data I have collected.
Arguments for locating in Finchley Central:-
Strengths:-
There is a selection of good transport links available in Finchley Central. The evidence of this point is shown in [Graph 7], which shows West Finchley census data; on the mode of transport people use to travel to work. The most common form of transport is the underground, which can mean that there can be many potential customers from the underground station as a lot of employed people would be leaving the station to go home in Finchley Central; thus meaning that they could stop off at Coffee Republic to get a beverage. This can mean locating near to the train station, customers can be targeted strategically. Furthermore, Coffee Republic is able to promote their products through advertising at these train stations and bus stops, so they are able to gain passing trade in the form of people exiting the train station, going home in Finchley Central. Also, transportation links could result in Coffee Republic’s suppliers may not be able to deliver goods efficiently. This demonstrates the idea of a sound business decision to locate here due to the amount of prospective customers they can gain, and the amount of transport links that can cause deliveries to be made on time.
Another argument for, is the fact that Finchley Central has a large working population; 71% of all residents in Finchley Central, are in someway economically active [Table 5]. 18% of which are in Class A, of the socio-economic classification, which shows that they are in high paid jobs such as lawyers, judges etc. Also, the majority of the population are in Class B, so they would also be earning a relatively high amount of income, they would usually be in jobs such as teachers, solicitors etc, [Table 6]. This can mean that a lot of the population in Finchley Central would have a lot of disposable income to spend on the luxury products that Coffee Republic offer. However, a counter-argument for this point is that a large population can in fact lead to a shortage of labour, which can mean that when looking for staff, they may need to resort to looking at local schools and colleges to find staff, as they can hire minors like these, for cheap wages to work part-time. But, this doesn’t necessarily mean that these workers will be skilled, so on-the-job training will need to be provided, which will then increase business costs. However, it can mean that staff can gain skills over time, which means that operations on the shop floor can be more efficient.
Opportunities:-
An argument for, to do with an opportunity is the fact that a joint venture can be done be done with Tesco, so that both businesses can win. A deal can be done between both businesses, as the probable locations where this Coffee Republic can locate are within the vicinity of Tesco. The proposed deal can be that if a customer shows Coffee Republic a Tesco receipt on the same day, it means that the customer can get half price off coffee, this way both businesses can win, as both can get trade from customers. From my data, the majority of people in Finchley Central are willing to pay £1.50-£1.99 [Graph 3], this means that people do not necessarily want an extremely high price or low price for their coffee, this amount is a very respectable amount, and if this venture is completed, it will mean customers will pay 75-99p. This seems like a low amount, but this sales promotion will attract a lot of customers, so there is likely to be a rise in sales and ultimately, a profit. This illustrates the idea of a sound business decision as both businesses earn customers, and will help to increase the popularity for both firms and could earn Coffee Republic a profit.
A final opportunity and argument for, is the fact that competition can be eliminated easily due to Coffee Republic’s reputable name. According to my data [Graph 4], the most popular coffee shop that people prefer a Costa shop, followed by a local café. However, there are no large competitors in the area such as Costa [data from upmystreet], there are only small scale competitors, mainly local café’s. However the data from people’s feedback shows that people like the local café’s, so people may not want to buy from a branded franchise like Coffee Republic. But, this may not be the case, as Coffee Republic is likely to eliminate such small scale competition, due to its reputable name, so it will attract many customers that would go to the local café‘s. This would then increase Coffee Republic’s sales and as competition gets wiped out, market share will increase. This indicates the idea of a sound business decision, as Coffee Republic is almost guaranteed to get a lot of customers, as the affluent area of Finchley Central doesn’t have a proper coffee shop; it’s an untapped market, which will mean that it will be easy to wipe out any probable competition.
Arguments against locating in Finchley Central:-
Weaknesses:
An argument against, which is a weakness, is the fact that the credit crunch has cut peoples spending on indulgences such as what Coffee Republic has to offer. This is best reflected in the interview which I conducted, [refer to interview], where a café owner gave us his first hand view of what has happened to its sales in this economic dilemma. The owner stated that ‘recently, maybe as a result of the credit crunch, it’s very quiet. Instead of buying two cups of coffee with a snack or meal they are buying a single.’ This shows that the credit crunch may have hit hard on the Finchley Central population, as the owner stated that its much quieter since the credit crunch has happened. A counter-argument which can solve this issue is something that another big branded coffee franchise has initiated. Starbucks has issued free refills on their coffee due to the credit crunch. This could be something that Coffee Republic can initiate if they want to beat the credit crunch, and retain their customers. This would not be a sound business decision, as the people who are affected by the credit crunch may not want to pay the high price for the quality products that Coffee Republic provide, so they may not have as many customers as they would want.
Recommendation:-
Finchley Central is a well off area brimming with a lot of potential and in my opinion, a sound business decision to set up a new Coffee Republic franchise there. It is an area with a very affluent community and has great transport links making the accessibility high; because it is close to the motorways, it can ensure that efficient deliveries are made. Taking into account all the research which I have done, I would conclude that Finchley Central is a very good location to set up a Coffee Republic, however there are many potential exact locations where it can be set up in Finchley Central.
A potential site for a new Coffee Republic would be inside Tesco’s. Tesco’s is one of the most leading supermarkets in the UK; they have a large customer base ranging between all ages. By locating inside the Tesco store, the two businesses can undergo a joint venture, which I already have mentioned in my evaluation; show Coffee Republic a Tesco’s receipt and get half price off a standard cup of coffee. If a Coffee Republic were to open in Tesco’s it is likely that people would buy Coffee whilst shopping or after shopping. However, the initial costs for opening up the new franchise in Tesco’s will be considerably more than if it opened up elsewhere. Also, placing a Coffee Republic inside the UK’s leading supermarket would cost a lot. Tesco’s may have to negotiate a fair share of the profits made by Coffee Republic.
By looking at my secondary data from the West Finchley Census, I can see that the majority of residents in Finchley Central, travel to work using the underground [Graph 7]. Consequently, the location of a Coffee Republic inside Finchley Central underground tube station could be a sound business idea. By locating in the station, there is a possibility of applying for a government grant. Due to the credit crunch and economic downturn, creating jobs is something that the government would want big companies like Coffee Republic to do; this would increase the chance of Coffee Republic getting a grant. On the other hand, by locating inside the tube station, Coffee Republic would be narrowing down their potential market, as it may not be seen inside the tube station; they wouldn’t have a lot of scope for customers. But a counter-argument for this is that, hundreds of people use the underground each day, so it’s likely that Coffee Republic may pick up some customers, as commuters enter and exit the tube station.
The final option is to locate on Station Road which is close to Finchley Central station. In my opinion this where Coffee Republic should locate. The site at the moment is vacant and is situated close to potential customers such as offices, banks etc. The advantage of locating on Station Road is that it is of substantial size. If opened up on Station Road, they wouldn’t have to pay money to other company, if they want to lease the building; it also has a large potential customer base. However, it may be more expensive setting up the new franchise on Station Road as opposed to inside the station or in Tesco’s. This is because this a hotspot as it is situated near to the main road, so there could be potential competition between firms for that spot. Nonetheless, I think that Coffee Republic should locate here due to the potential customer base, probability of joint ventures, and the size of the site.
Conclusion:-
‘Is it a sound business decision to locate a Coffee Republic Franchise in Finchley Central?’
In conclusion, I have been looking at the above statement, whether or not it is a sound business decision location to locate a new Coffee Republic franchise in Finchley Central. In order to help me come with a conclusion, I conducted primary and secondary research. Based on this information, Coffee Republic should locate on Station Road in Finchley Central. This is because the area has all the characteristics of a sound business decision. These are characteristics that will:
- Have a future
- Make a profit
- Be able to meet a need
- Attract investment to the area
- Generate positive cash flow
- Offer a high rate of return
- Fend off competitors
- Be marketed feasibly
In my opinion, if Coffee Republic were to locate here, there is a high potential of sales, profit and growth, none of these will happen if I locate anywhere else in Finchley Central. If it were to locate on Station Road, in the long term, around ten years down the line all competitors would be eliminated and because of the increasing sales over the years, there is a possibility for growth, where they could locate in surrounding areas to Finchley Central, such as Barnet, Brent Cross etc. This would definitely be a sound business idea to locate here.